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Markets :: Specialty Chemicals :: Food additives

DSM Offers to Buy Martek Biosciences for $1 Billion

9:46 AM MST | December 21, 2010 | Nancy Seewald

DSM says it has agreed to acquire nutritional ingredients producer Martek Biosciences (Colombia, MD) for about $1 billion ($31.50/share) in an all cash transaction. The deal represents a premium of 35% to Martek’s closing share price on December 20. It is expected to be completed in the first of second quarter of 2011. Martek reported sales of about $450.0 million in its fiscal year 2010 ended October 31. DSM says the deal will be immediately accretive to earnings by about 15-30 euro cents/share, and is expected “to realize material revenue...

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